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parties are. >> they are going with the american economy and the global economy. closer you get to the fiscal cliff, i think the less likely it is that the u.s. will be funded over and. >> okay, let me ask about tax reform. mutual political last week that a balanced approach to placing the sequester with benefits and revenues should accelerate tax reform, and i believe it's fully possible this year we work on a bipartisan basis. how does that square with the people that say that the tax reform is going to lose out because of scheduling and needing to deal with the debt ceiling and the looming sequester and house republicans concerned that if they do anything on tax reform, that they may leave themselves open to the senate not taking action. therefore, they have taken in on popular vote for no reason. >> first of all we have to solve this debt crisis in terms of sequestration and in terms of the full faith and credit of the u.s. and. we are not going to accomplish tax reform in the next six weeks. so we have a deadline that cannot basically be moved for what we need to do in the
and the economy. >> it's my pleasure to welcome you here to the brookings institution on a soggy day. it's not too hard to come in from outside on a day like this. this is the fifth growth through innovation forum that we have held at brookings but i'll give you a little background in a minute. it's the third one that we are conducting publicly. the phrase growth through innovation is an important part of the vocabulary to at brookings. we have what we call for institutional priorities under which we try to cluster all of the work that are more than 100 scholars do here. those for priorities are energy and climate, opportunity and well being, managing global change, and growth through innovation. this is i think exactly the right moment to be having today's event. we are in a period of transition in our national leadership here in the capital, of course. we have a new treasury secretary, chief of staff coming in. we'll be having a new commerce secretary, labor secretary, and, of course, the 113th congress is settling in on capitol hill. the forum is going to address the issues of how to reinvigora
similar things and have also had some success in creating more monetary policy support for the economy. >> you had mentioned that there has been evidence that the longer-term interest rates have come down to the initial round. concern is that the unemployment rate remains very high and activity would try to bring that down and one would hope to see additional movements from the most recent round. are you suggesting that one would need to be patient? needs a little bit more about how you would assess how this is having the kind of effect that you would anticipate? >> well, we will be doing that on a regular basis. we will be looking at the impact on financial markets and we will see some effect there. we will look to see whether or not the labor market situation. we first started talking about a .1% on employment, there has been some movement. there was nearly 40% of the unemployed having been out of work for six months or more. that is a situation where there are too many people i can give you specific criteria except to say that we will be assessing the impact of our actions a financi
escalates the fight on the w economy. is the debt ceiling negotiable? your thoughts? send us a tweet or post your comment on facebook. you can also send us an e-mail. president obama held his last official news conference of the first term yesterday in the east room of the white house. here's what he had to say on the debt ceiling debate. [video clip] >> republicans and congress have two choices. they can act responsibly and pay america's bills or they can act irresponsibly and put america through another economic crisis. but they will not collect ransomed in exchange for not crashing the american economy. the financial well-being of the american people well-being is not a leverage to be used. the full faith and credit of the united states is not a bargaining chip. they had better choose quickly, because time is running short. the last time republicans in congress even flirted with this idea, r. triple-a credit rating was downgraded for the first time in our mystery, our businesses created the few jobs in any month in nearly the past three years, and the whole fiasco added to the deficit. ho
for our economy. so important for our public safety. so important for emergency response as we witnessed here in the northeast of the country. and so, while the fight was long and at times, unnecessary, at least the vote was taken today and we move forward. mr. garamendi: thank you, mr. tonko. the bill now is out of this house. it's already in the senate. we expect the senate to pass it probably tomorrow or the next day. certainly before the inaugural on monday and then the president will sign it shortly thereafter. bringing that kind of relief. you mentioned the jobs issue and people need to go to work. when we have these natural disasters and we come forward with the kind of support that we have seen today and will soon be available for new jersey, new york, connecticut and the surrounding areas, people go back to work. those people that have received immediate fema support for housing, for clothing, for food, that money is immediately spent into the economy. on the infrastructure side, it's crucial when the subways of lower manhattan flooded, the world's financial institution took a w
. she'll talk about the impact of immigration reform on our economy. share your thoughts with us on facebook and on twitter using the hash tag edshow. we're coming right back. i've been taking a multivitamin for years. centrum silver. both of us actually. our pharmacist recommended it. and that makes me feel pretty good about it. and then i heard about a study looking at multivitamins and the long term health benefits. and what do you know? they used centrum silver in the study. makes me feel even better, that's what i take. sorry, we take. [ male announcer ] centrum. the most recommended. most preferred. most studied. centrum, always your most complete. the most recommended. most preferred. most studied. officeyour business needs...k... at prices that keep you...out of the red. this week get a bonus $15 itunes gift card with any qualifying $75 ink purchase. find thousands of big deals now... at officemax. >>> it is a sad, sad day. but it's also your day, noah, my little man. i will miss your forceful and purposeful little steps stomping through our house. i will miss your perpet
economy. share your thoughts with us on facebook and on twitter using the hash tag edshow. we're coming right back. >>> it is a sad, sad day. but it's also your day, noah, my little man. i will miss your forceful and purposeful little steps stomping through our house. i will miss your perpetual smile, the twinkle in your dark blue eyes framed by eyelashes that would be the envy of any lady in this room. most of all, i will miss your visions of your future. >> welcome back to "the ed show." that was veronique pozner, giving the eulogy at the funeral of her son noah. noah pozner was one of 20 children killed at sandy hook last month. he was just 6 years old. veronique and her family, as well as other newtown families are fighting for reform in house of representatives of stopping another tragedy. and tomorrow the president will unveil a set of proposals to curb gun violence in this country. the president's recommendations are said to include universal background checks, a high capacity magazine ban, and a renewal of the assault weapons ban. nbc news has also learned that the president's r
economy that provides equal opportunities for all americans with no barriers born of bigotry or discrimination. putting america back to work means putting all americans back to work. ending inflation means freeing all americans from the terror of runaway living costs. all must share in the productive work of this new beginning,' and all must share in the bounty of a revived economy. with the idealism and fair play which are the core of our system and our strength, we can have a strong and prosperous america, at peace with itself and the world. so, as we begin, let us take inventory. we are a nation that has a government -- not the other way around. and this makes us special among the nations of the earth. our government has no power except that granted it by the people. it is time to check and reverse the growth of government, which shows signs of having grown beyond the consent of the governed. it is my intention to curb the size and influence of the federal establishment and to demand recognition of the distinction between the powers granted to the federal government and th
, for the war to end. host: let's hear the president speaking on the economy, social security, and medicare. caller: we the people -- [video clip] >> many barely make it. we believe that america's prosperity must rest upon the broad shoulders of a rising middle class. we know that america thrives when every person confined independence. on the wages of honest labor, liberating families from the brink of hardship. we are true to our creed, when a little girl born into bleakest poverty has the same chances to succeed as anyone else because she is an american, free and equal, not just in the eyes of god, but in our own eyes. we the people still believe that every citizen deserves a measure of security and dignity. we must make the hard choices to reduce the cost of health care and reduce the size of our deficits. but we reject the belief that america must choose between caring for the generation that built this country and investing in the generation that will build its future. [applause] we remember the lessons of our past, years spent in poverty, the parents of a child with a disability had
the american economy. the financial well-being of the american people is not leverage to be used. the full faith and credit of the united states of america is not at bargaining chip. >> on tuesday following a meeting that took place in the west wing, president obama surmounted a huge hurdle in the nomination of chuck hagel to be defense secretary when influential new york senator chuck schumer gave it his blessing. yesterday the president forcefully and emotionally laid out his proposals to curb gun violence and challenged americans to confront the representatives and stand up to the nra. let's listen. >> ask them what's more important, doing whatever it takes to get an "a" grade from the gun lobby that funds their campaigns or giving parents some peace of mind when they drop their child off for first grade. >> joining me is former rnc chair and msnbc contributor michael steele and democratic strategist bob shrum. shrummy, i have to start with you. it sounds like you got into the president's ear. i know you haven't, that i know of, but he's starting to charge this campaign for the second t
, for our economy cannot be overstated. the sovereign debt of the united states, for it to be questions that we would pay our bills or not, is not a scenario that we want to go through as a country. that would really harm us. that said, as i was coming back on the train from new york, i shared this with those with me. i said you're going down this track at 130 miles an hour. what would cause the conductor, knowing that if he veers off on this next rail to the right and pulled the switch that would cause that to happen, even if he knew it would put the train at severe risk by veering off to the right, what would be the only reason a person would go off that course rather than go straight? and the reason is that there's a larger cavern, kind of a grand canyon that we are about to go off. here's what i have concluded as a businessman and a seasoned public servant. the music will stop at some point with respect to where we are. when we are pouring $1 trillion a year, 40 cents on the dollar, you cannot do that into perpetuity. the time for leadership is right now. the time to address this is
that the slaves produced for their masters and that made up the core of the southern economy. and only slave labor, only the labor of people who were owned outright by their owners, by landowners who had no right to object, much less to refuse the conditions under which they were compelled to work, only slave labor would cultivate those crops intensively and cheaply enough to yield the tremendous profits that they did. slavery's importance to the southern elite was not simply a matter of dollars and cents. to many masters, as slave owners liked to be called, slavery appeared to be an essential, even an irreplaceable fixture of society. it was inseparable from everything that they knew and loved. it was inseparable from all aspects of what they refer to as their way of life. of course, economically but also socially and culturally. slavery was the unique basis of the particular outlook, the assumptions, the norms, the habits, the relationships to which these masters had become deeply and reflectsively attached -- reflectsively attached. it defined their culture, it shaped their religion, it even sh
on the economy. on the economy. his speech was supposed to be uplifting. republicans feel like for them to help steer the economy in the right direction, you have to get bending under control. with democrats, when they want to push jobs, it involves more stimulus spending. the two sides clash. they have never been able to pass some bills because it included stimulus that democrats wanted to pass. republicans want to get the economy going in the right direction and reduced spending. reduced federal regulations. repeal parts of obamacare. this is what job creation is about. that is part of the reason why congress is not passed these measures is because the two sides have opposite views on what it would take to create new jobs in america. that will continue. caller: i am calling in about the abortion and gay -- ia am fr contraceptives and they read killed -- date rape pills. as far as what it says in the bible, yes, it is against it. it says judge not lest you be judged. as far as the gay people go, i do not know anybody gay but i am for the rights of the gays because there are so many out there.
and diversified our economy. we decided we would be business friendly. we also did not have subprime mortgage. we did not have housing fall. foreclosures never really got serious. we kept people in their homes and kept them working. connell: we hope you enjoy the rest of your stay. dagen: we are glad the texans lost. [ laughter ] we are from the northeast. i am just kidding. thank you so much. near record low water levels in lake michigan causing cargo ships and barges to liken their loads. connell: let's go to steve now on how it can impact your wallet. >> because we have had such low water levels, it will impact your wallet. it has been dry in the region. we have had light rains in the summertime in that has produced lower water levels in all of the great lakes. if you are wondering just how low it is, we have a graphic to show you. between 87 and 97, the water drop a foot. between 94 another foot lower. it is at historic low water levels in lake michigan. cargo companies will have to carry less. >> you cannot strike bottom. you have to maintain a safe distance. when the water levels go down, w
' medical facilities, and help keep the economy moving by funding necessary repairs, small business loans, and recovery aid for businesses of all sizes. my committee thoroughly examined the emergency request, listened to the needs of the people and the region, and assessed the most pressing needs to determine the funding levels paid in this bill. we crafted this legislation responsibly, giving the administration's request and the senate passed bill a hard scrub to eliminate unnecessary spending. we have removed objectionable provisions added by the senate and have adjusted funding levels to make the best use of taxpayer dollars. as we know, we face precarious fiscal times and it's essential that congress make responsible decisions to ensure efficient and effective spending. taking cues from previous efforts we have included important oversight measures to prevent abuse and ensure that federal agencies are using these funds effectively and appropriately. this is not the first major natural disaster nor unfortunately will it be the last. one of the great attributes of the american people ha
. >> we must not permit and artificial debt ceiling to throw the country into default and our economy into chaos and depression, which is exactly what the republicans are threatening to do. jon: some conservative groups warn that removing the limit is a recipe for economic disaster, as we're seeing now in greece. the leaders of heritage action family research council and club for growth writing in an op ed they want congress to balance the budget within ten years and keep it balanced. quote, no american should have to tell an eight-year-old child that we cannot get our nation's house in order by the time she goes to college. there are many ways to get to a d republicans haved both an obligation to explain what path they will choose. jonah goldberg is editor at large for national review online, he's also a fox news contributor. get rid of the debt ceiling all together? jonah, what do you think about that idea? >> well i don't think it's a disaster if we got rid of the debt ceiling but i'm not in favor of getting rid of the debt ceiling. most countries don't have a debt ceiling. you sti
and partnering with things that are made in the usa. it's going to be just enormous for our economy. >> it's the largest company in world's history, walmart. they sell more food than -- food -- than any company in the world. >> i had no idea. >> that's how massive it is. 1.6 million employees. >> i think this could really make a difference in our economy. we need it. >>> all right. coming up, what happens when two retirees head to prison with their knitting kits. >> we'll show you those doing hard time with needles and yarn. you can't miss that. stay tuned. you're watching "world news now." stay tuned. you're watching "world news now." ♪ >>> good musical choice, huh? good musical choice. >> good stuff. all right. when you think about criminals serving time behind bars, you probably figure they're pumping iron or shooting hoops. >> and knitting is probably the last thing that comes to mind. two retirees are turning convicts into converts with yarn. here's abc's t.j. winnick with more. >> reporter: barbed wire fences, watchman towers, and a group of men with felony convictions. >> armed ki
-object detection. lease now. just $199 per month. visit choosenissan.com. road and track called sentra an economy car minus the look and feel of an economy car. wonder how civic and corolla look and feel about that. the all-new nissan sentra, with best-in-class mpg. lease for $169 per month. visit choosenissan.com. >> with the gun control debate exploding across the country. one kentucky sheriff sending a strong message to the feds. jackson county sheriff denny payman insisting you're never going to pull guns out of jackson county. how does he intend to make good of that declaration. the sheriff joins us, good evening, sir. >> good evening, how are you this evening. >> greta: very well. what happens if president obama issues some executive order and increases the control over guns or weapons? you're not going to enforce it? >> with the executive order? >> yes. >> okay. well, when i swore an oath, i swore an oath to the community. the group of people that live in jackson county. i swore an oath to the constitution, and swore oath also to the constitution of kentucky, and in that constitution is a
and track called sentra an economy car minus the look and feel of an economy car. wonder how civic and corolla look and feel about that. the all-new nissan sentra, with best-in-class mpg. lease for $169 per month. visit choosenissan.com. email marketing from constant contact reaches people in a place they're checking every day -- their inbox. and it gives you the tools to create custom emails that drive business. it's just one of the ways constant contact can help you grow your small business. sign up for your free trial today at constantcontact.com/try. ♪ [ indistinct shouting ] [ male announcer ] time and sales data. split-second stats. [ indistinct shouting ] ♪ it's so close to the options floor... [ indistinct shouting, bell dinging ] ...you'll bust your brain box. ♪ all onhinkorswim from td ameritrade. ♪ >> this is a fox news alert. fox news confirming that secretary of state hillary clinton will appear before the house foreign affairs committee on january 23rd to testify about benghazi. secretary of state clinton was scheduled to testify about the libyan terror attac
that we have a uniform rule of economy gent circumstances. that, her suggestion complies with your objection. >> well, if i'm understanding it correctly, i think our point is this, which is that the police officers have to act reasonably in the situation. in the situation they know for sure the evidence is going to be lost, they know that every minute is critical, for example -- >> so many situations in which we require a warrant, nevertheless. when there's drug dealing in a house, every time -- it's almost a certainty that they're going to use the drugs, and that evidence is going to disappear. you rely on knowing that there's likely to be telltale signs left over. and that's the same thing you do in an alcohol situation. you rely on the testimony of the police officer, you rely on the implied consent presumption. it's not as if this is destruction of all evidence. and not like a fleeing situation where someone gets away, you have nothing left. this is vastly different. >> i mean, with respect we disagree. this evidence is critical, and the number matters. i mean, it is the case t
that healthy ecosystems also can mean healthy economies. from louisiana, what we have taken -- what we believe is a very good first effort the addressing the vulnerabilities that exist in reducing that risk is with the state's matter of fact plan which is a long- term plan to reduce the economic significance and reduce the risk across the coast. we believe we can achieve protection for all coastal communities. it is that resource that is important. the states provide and the gulf provides to the nation, it if it is going to be afforded through the nation. we believe with this plan we can have sustainable healthy ecosystems but also healthy communities. there's an essence of -- there is a form of social engineering because if you can't ensure the communities, the supermarket, the schools, the things that the communities depend on, the communities will not survive. we want to make sure we will develop a healthy system but also healthy communities that can provide those resources. we have come a long way, it is not perfect but we have a plan to achieve this sustainability and protecting the commu
in the economy before he was inaugurated and nobody knew what he was going to do and people said that they should have sent signals. it would have helped the country but it seems like it helped them do a better job waiting. we've two of them for president now and the fiscal crisis and the war going on and everybody is wondering what is going to happen. what advice would you give to mccain or obama of the should do once they are elective or should they wait until they are inaugurated to say what they are going to do? >> the question is if i could repeat, another excellent question. the parallel between lincoln and fdr not doing anything in the four months that they faced the real crisis as compared to the crisis the next president will inevitably face and whether he should be involved. i will say quickly as daniel weinberg knows one of the inspirations for the book was jonathan alter's book on clinton's roosevelt first 100 days with strong sections on the president-elect and i still remember vividly which is the good thing about the book remember building reza on march 2nd or 3rd. you've got to do
of this country, because the consequences of a default would ripple throughout the economy of. this of i just saw an article yesterday that said the people are now drawing on their retirement funds, the middle class of this country. so we now want to have a debt ceiling threat that would cause further erosion in the stock market, that would essentially make things begin to go haywire? i guess the republicans are going to be sinking this weekend how to proceed. i think they need to proceed with sensibility and common sense instead of an effort to be so extreme that you threaten the economy of the country. host: house republicans leaving for a retreat tomorrow to discuss - guest: they should retreat from the idea of using the debt ceiling. host: the referenced the wall street journal this morning. -- you referenced. many republicans see a debt limit showdown as risky. pat toomey said tuesday he would introduce legislation next reconstructing the white house caprettto prioritize the government's bills. guest: we have had some deficit reduction. as the president laid out a couple days ago, we have ha
, of course the economy. but how does all of that fit? how does that come into something that is coherent? as a vision for the next four years and as a strategy of getting those things achieved. i think that will be great to hear. and to be reflective. what have we learned in the last four years? he came in with high expectations, and he can address some of the divisions that existed in the country politically. he can address domestic and foreign policy issues that were affecting the country. what has he learned about what it takes now and what he will have to do and what his administration will have to do, and what is counting on the american people to do to make his agenda come to fruition? host: the president and vice- president are currently at service at st. john's episcopal old church, just run the corner of the white house. their it is on your screen. we will watch them as they go out. approximately 45 minutes -- 15 minutes more in the service before the exit the church. jane in jacksonville, florida, a democrat's line. please go ahead. caller: first of all, good morning. i want to
% of the economy. now he is talking about energy. the second thing. if you took an outsider and said what is the main issue of our time? it's the crisis of the entitlement state. it's insolvent. it's advanced in europe where they are out of money and we are going to get there in a couple of years. there is nothing in the speech about that. not even recognition there is a crisis. tall programs of the 20th century were enacted with the life expectancy is 62. medical technology is eventually non-existent. he said i'll take that, defend that and expanding the entitlement by adding obamacare he said i'll do energy that he spoke about a month after the first inauguration. with climate change and continue on the road in green energy stuff. he wants to create what he thinks he can in washington, new industry, string of solyndras until the end of time. expanding entitlement state in crisis. there is no change from who he was in 2009. he never has to be re-elected so he can be utterly unbound and say exactly what he wants to do. but ide logically i found remarkable speech. >> bret: what did you lik
that? is there enough tax generated in the economy to offset that? and would disaster occurs are you on the hook for off infrastructure and everything else that may be required to rebuild that community? and asia return on that exposure -- is your return greater? as a taxpayer, the answer is unfortunately too often know. we have subsidize risks to the point where as long as no extreme event occurs, it seems okay. but when the extreme event occurs, you are now exposed to much greater costs without necessary generating revenue or other societal benefits off that risk. now, during the '70s and '80s and through the early '90s, went a lot of growth was taking place in coastal areas and other vulnerable areas, very few storms were occurring. frequency was down. so the allusion was i have lived here for 30 years, this never happens. welcome the problem with climate whether it's 30 year cycles are like an eyelash in understanding how big systems and dynamics work. not talking at any of the forcing issues, and now we find ourselves in this period of increased activity and you are sitting on t
year and the fourth year. >> harder when he's a candidate to an achieve. the economy, they said if they passed the massive unemployment, it'd keep under 8%, it was spiked up to 10% and down to 7.8 and they say it's a fail. and killed osama bin laden, and passed health care, what kind of program we'll be we're only getting it now, it passed two years ago. >> alisyn: and iraq, promised to end iraq and making steps towards that as well. >> iraq and afghanistan. >> although unemployment continues to be a problem. i read this morning one more person unemployed, manti te'o's imagery girlfriend has lost her job. >> her imagery job. >> she didn't show up. >> we found out she was alive before she didn't exist. >> and people in kentucky picked up a phone and senator mitch mcconnell was calling them on the television and recorded a message sent out to about 250,000 people who live in kentucky. and who own guns who are hunters and he personally pledged as the minority leader in the u.s. senate, he will not allow the president's gun control measures to go through. and here is a little bit of
is greater than our nation's economy exceeding our g.d.p. and we have on the floor floor toda legislation that calls upon our children and grandchildren even greater burdens of debt. it's time to end the credit card economics. we simply cannot afford to spend money that we are borrowing from countries like china on-line items we don't need and constitution isn't authorized to spend. my amendment strips one line item out of this bill. this is really low-hanging fruit. the sandy relief effort was increased by $1 million to boost the legal services corporation, massacre aiding as disaster relief and i thought we had a ban on earmarks in this congress. why is a bailout for new york lawyers emergency hurricane relief, even if you believe this is a legitimate government program which i don't, by the way, how can you argue that spending on lawyers is a legitimate emergency spending? let me say again, for $-- we are $16 trillion in debt, we are $16 trillion in debt, america. we simply cannot afford to continue like this. we cannot keep spending on money we don't have on things we can't afford and
industry in germany? at t. rowe price, we understand the connections of a complex, global economy. it's just one reason over 75% of our mutual funds beat their 10-year lipper average. t. rowe price. invest with confidence. request a prospectus or summary prospectus with investment information, risks, fees and expenses to read and consider carefully before investing. >>steve: welcome back. the welfare state is growing and sadly on so many levels no sign of it slowing down. >>gretchen: that according to a new chart released by republicans on two senate budget committees. according to dana colmes, federal welfare spending expected to skyrocket 80 % over the next decade. stew varney is here. how did he come up with that calculation? >> that is government numbers used by republican members of the senate budget committee. it represents a whole new america. in fact, it represents a total reversal from the days of welfare reform in the mid-1990's. welfare has made an enormous come-back. there are no plans to rein it in. it is going to go up by $11 trillion. spending on welfare up $11 trillion
-destruction. the american economy from full blown depression. good evening, democrats. >> president obama's friend, massachusetts governor deval patrick talks to me about the president's next term, and about his own next steps. you are watching msnbc, the place for politics. [ man ] visa prepaid opened a new world for me. ♪ i have direct deposit on my visa prepaid. my paycheck is loaded right on my card. automatic. i am not going downtown standing in line to cash it. i know where my money is, because it is in my pocket. i got more time with my daughter, we got places to go. more people go with visa. officemax can help you drive suand down.s down... use your maxperks card and get a 10-ream case of officemax multiuse paper for just 4.99 after maxperks rewards. find thousands of big deals now... at officemax. what's good for the pot... is even better for the cup. new single serve cafe collections from maxwell house. now available for use in the keurig k-cup brewer. always good to the last drop. now available for use in the keurig k-cup brewer. i've always had to keep my eye on her... but, i didn't
in exchange for not crashing the american economy. the financial well being of the american people is not leverage to be used. the full faith and credit of the united states of america is not a bargaining chip. >> and that's yesterday's last press conference of the presidential term. newt gingrich of all people reacted by saying the president was bullying republicans. that's a long way from saying he's weak. now he's a bully. let's watch. >> i don't think we should pick fights where we are in a position that we can't, in fact, in the end enforce our will. we have no evidence that barack obama's going to compromise. i think this president is deliberately seeking confrontation and is going out of his way to bully house republicans. >> we'll see. winston churchill once said when people like newt hung around in politics after they were defeated, we more disappearages. i wonder my thought about this guy. why he's still on television. anyway, newt gingrich said the president's a bully. yours? >> very different from what people said before about this president which is he would fold early
the connections of a complex, global economy. it's just one reason over 75% of our mutual funds beat their 10-year lipper average. twe price. invest with confidence. request a prospectus or summary prospectus with investment information, risks, fees and expenses to read and consider carefully before investing. >> appear american pastor is set to appear before notoriously harsh judge in iran on charges that he compromised national security. that pastor supporters say the iranians are going after him only because is he a crismghts david lee miller in new york city. can you explain who this pastor is and what the pastor is charged him with doing. >> the pastor is in an iranian prison awaiting trial that could result in the death penalty. he says he has been tortured. his crime establishing a network of churches in people's homes. the iranians say he is undermined national security. supporters fear for his life because as a muslim who converted to christianity under iranian law who he could be executed. the judge will hear his case as a history of handing out death sentences to human rights activists.
the growing threat poses a major threat to the u.s. economy. >> where is the tipping point? i don't know where it is, but when it comes, going to be so swift and so savage. >> reporter: obama's plan proposes $360 billion in cuts to medicaid, medicare and other health programs over the next decade. but because costs in those programs are rising fast, the debt would be $6.4 trillion higher in 10 years. the president's budget also proposes cuts to discretionary and mandatory spending that would save $737 billion over a decade. military spending would be reduced, saving $487 billion. the fiscal cliff bill that congress passed on new year's day would also reduce projected deficits somewhat. higher taxes on households making above $450,000 and other tax increases will raise an additional $600 billion in revenue by 2022. but that's not enough. and as democrats and republicans gear up over the next few months to debate spending cuts, debt limits and the federal budget, there still is not a credible plan out there that puts a serious dent in the debt. but douglas durst still holds out hope that one day
of the essential players in the economy, and so i'm hoping that the -- the mostly republican large corporate executives and businesses and wall street weigh in and grab these people by the collar and say are you crazy? the consequences are so bad? and if you think that the right-wingers are the only ones that are going to play in the next election you are mistaken. the chamber of commerce, business round table, et cetera could play an important role here and some reality check with some of these. some of us have introduced legislation that would actually repeal the debt ceiling. it's only us and denmark that has a debt ceiling and all of the countries of the world. >> stephanie: right. >> and we should just get rid of that rule. >> stephanie: yeah, i agree. and it's interesting to your other point. even newt gingrich made that point that the financial community is going to come in. he basically said it's a political loser, stop bluffing about it. >> right. >> stephanie: but we saw the same talking points yesterday. >> yeah, the john boehner part scares me, because i thou
some of the things picked up from the campaign. he's got to talk about the economy, talk about the number one issue to americans, and that's jobs and expanding and growing the middle class. we're looking at a middle class that continues to shrink, and it's something that really bothers the president. >> this is a speech that talks about values. he's going to try to paint a vision for his next term. the danger is if he's too broad. it won't be memorable. so how does he keep it tight, have memorable lines, maybe a quotable nugget that we can take with us like blue states and red states, the united states of america. it's a high bar to set, but he's done it before. >> jessica, you've been covering him for a long time at the white house. is this a different man than he was four years ago, a different politician, a different president? >> we always saw barack obama, there was the professor, and there was barack obama, the competitor. since he's been in office, we've seen barack obama, the competitor, emerge as a more dominant force. barack obama, the competitor, plays to win. we've
and weak economies. back to you. >> mary thompson of the new york stock exchange. thank you. what is more incredible than a spectator at a basketball game sinking a half-court shot? check out what happened when atlanta hawk fan kevin went for the thousand dollar prize at half time. as you see, the ball got wedged there right between the backboard and the rim. kevin, though, did win the thousand dollars because the shot was so unbelievable, and technically the ball did make it into the basket when a hawk staffer then yanked on the net. >> go back to the beginning of that. technically, savannah just pointed out he shouldn't have gotten the money because he stepped over the line at half-court. watch closely. there, right there. i would have given it to him, savannah. >> i think we all know that i would have given it to him. just for showing up, i would have given him the thousand bucks. let's get to dylan dryer who is in for al. what a mess on the east coast this morning. >> such a mess. commuters dealing with rain, ice, sleet. we have snow across new england. it is going to be messy through
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